2025-06-16-花旗集团-花旗最受关注-工业科技与移动性_11页_313kb

Summary of Citi Research on Industrial Tech & Mobility Super-Sector

Citi's analysis focuses on the Industrial Tech & Mobility super-sector, covering recent research reports on key companies. Below is a concise summary of impactful findings and recommendations:

• Safran (SAF.PA): Downgraded to Neutral; target price set at €275. Citi views the current price as reflecting stable profitable growth, with moderate forecasts— slightly above consensus for near-term but below for 2030. Factors include normalizing seasonality and fair valuation justified by market position.

• Boeing (BA.N): Negative implications from Air India flight crash involving a 787-8 Dreamliner, potentially leading to temporary downside. However, funding for F-35 programs is unlikely to have a significant financial impact; Citi maintains a Buy rating with a target price of US$220.

• Schneider Electric (SCHN.PA): Maintain Buy recommendation; target price €245. The company is returning to normal profit seasonality, with Citi positive on long-term growth in electrification and automation, despite slight near-term adjustments.

• BYD (1211.HK): Buy recommendation upheld; target price HK$242.33. Citi expects strong domestic and export growth, with inventory management supporting production targets and operational leverage through 2025.

• QuantaSing (QSG.O): Ugraded to Buy from Neutral; target price upgraded to US$9.52. WAKUKU's success validates IP strategy and growth, with revised forecasts showing robust revenue and profit expansion potential.

Citi's super-sector includes the Autos, Capital Goods, and Transportation industries, emphasizing disruptive trends like industrial automation, electrification, and top-down analysis convergence.